Among the fund raises, banking and finance companies are expected to do the biggest. Vietinbank said it was raising its charter capital to VND30 trillion ($1.5 billion) from current VND15.17 trillion ($758.5 million).

If the plan succeeds, Vietinbank will be the biggest market-cap company on the local bourse this year.

So far, the bank had allocated almost VND1.7 trillion ($84 million) to IFC and IFC Capitalisation Fund.

Besides Vietinbank, the state-owned construction company Vinaconex and the real estate group Ocean Group are on the move.

Vinaconex expects to raise its capital to VND5 trillion ($250 million) from current VND3 trillion ($150 million), while Ocean Group plans to raise capital to at least VND3 trillion ($150 million) from VND2.5 trillion ($125 million).

Meanwhile, food giant Vinamilk announced to increase its capital by at least 54 per cent, mainly via allocating bonus shares.

According to Stoxplus.com’s statistic, some 200 local companies are having debt on equity ratios larger than one, while their return on equity ratios are fewer than 18 per cent. That means there will be great possibility that those companies have to raise fund via stock market in order to reduce their debts.